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How Cryptocurrency Turns to Cash in Russian Banks

Krebs on Security

A financial firm registered in Canada has emerged as the payment processor for dozens of Russian cryptocurrency exchanges and websites hawking cybercrime services aimed at Russian-speaking customers, new research finds. A machine-translated version of Flymoney, one of dozens of cryptocurrency exchanges apparently nested at Cryptomus.

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Cryptocurrency Startup Loses Encryption Key for Electronic Wallet

Schneier on Security

The cryptocurrency fintech startup Prime Trust lost the encryption key to its hardware wallet—and the recovery key—and therefore $38.9 I can’t understand why anyone thinks these technologies are a good idea. It is now in bankruptcy.

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Decarbonizing Cryptocurrencies through Taxation

Schneier on Security

Maintaining bitcoin and other cryptocurrencies causes about 0.3 As many cryptocurrencies crash and the FTX bankruptcy moves into the litigation stage, regulators are likely to scrutinize the cryptocurrency world more than ever before. The good news is that cryptocurrencies don’t have to be carbon intensive.

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On the Dangers of Cryptocurrencies and the Uselessness of Blockchain

Schneier on Security

Earlier this month, I and others wrote a letter to Congress, basically saying that cryptocurrencies are an complete and total disaster, and urging them to regulate the space. But that’s nothing inherent in blockchain technology—that’s just a bunch of bad design choices bitcoin made. ” I have yet to see one.

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Hackers Exploit Zoom's Remote Control Feature in Cryptocurrency Heists

SecureWorld News

A sophisticated cybercrime campaign, dubbed Elusive Comet , has been uncovered, in which North Korean threat actors are exploiting Zoom's remote control feature to infiltrate the systems of cryptocurrency professionals. The research behind the discovery was released by Security Alliance , which tracked and analyzed the campaign.

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The GitVenom campaign: cryptocurrency theft using GitHub

SecureList

stealer that collects information such as saved credentials, cryptocurrency wallet data and browsing history, packs it into a.7z com/Dipo17/battle ) and execute them. These components were as follows: A Node.js 7z archive and uploads it to the attackers via Telegram. Notably, the attacker-controlled Bitcoin wallet ( ID: bc1qtxlz2m6r[.]yspzt

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Where Next for Blockchain Technology After FTX Collapse?

Lohrman on Security

The bankruptcy filing by crypto giant FTX, along with the dramatic drop in the value of most cryptocurrencies in 2022, has raised new questions regarding the future of blockchain technology.